Mattress Firm looks to raise about $100 million in IPO

New York City -- Mattress retailer Mattress Firm Holding Corp. expects to raise about $100 million in an initial public offering to pay down its debt, the Associated Press reported.



The company is offering 5.6 million shares, and expects them to price from $17 to $19 each. After expenses the company anticipates net proceeds of about $90 million.



Most of the proceeds will go toward repaying $84.4 million in debt outstanding under a loan.



Mattress Firm and its franchisees run 757 stores in 25 states.



Boston private equity firm J.W. Childs currently owns about 77% of the company.